The following are all steps in the implementation of the target costing process for a product:

(1) Calculate the target cost
(2) Calculate the estimated current cost based on the existing product specification
(3) Set the required profit
(4) Set the selling price
(5) Calculate the target cost gap

Which of the following represents the correct sequence if target costing were to be used?

A. (1), (2), (3), (4), (5)
B. (2), (3), (4), (1), (5)
C. (4), (3), (1), (2), (5)
D. (4), (5), (3), (1), (2)